PCL Aviation: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
PCL Aviation
Largest movements
- Tangible fixed assets +€9,051
up €9,051 (+345%), from €2,624 to €11,675
of which Land and buildings: +€8,249
- Cash +€7,041
up €7,041 (+19.1%), from €36,781 to €43,822
mainly Net result for the year (+€15,056) and Depreciation (+€3,155)
- Profit (loss) carried forward +€15,056
up €15,056 (+163%), from €9,242 to €24,298
- Trade debts +€823
up €823 (+65.2%), from €1,262 to €2,084
- Gross operating margin +€11,226
up €11,226 (+91.1%), from €12,327 to €23,553
- Taxes +€4,068
up €4,068 (+341%), from €1,192 to €5,260
- Depreciation -€3,741
down €3,741 (-54.2%), from €6,896 to €3,155
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,505 | €58,903 | +€16,399 | +38.6% |
| Fixed assets | 21/28 | €2,624 | €11,675 | +€9,051 | +345% |
| Tangible fixed assets | 22/27 | €2,624 | €11,675 | +€9,051 | +345% |
| Land and buildings | 22 | €1,482 | €9,731 | +€8,249 | +556% |
| Plant, machinery and equipment | 23 | - | €1,118 | +€1,118 | |
| Furniture and vehicles | 24 | - | €826 | +€826 | |
| Other tangible fixed assets | 26 | €1,141 | - | -€1,141 | |
| Current assets | 29/58 | €39,881 | €47,228 | +€7,347 | +18.4% |
| Amounts receivable within one year | 40/41 | €3,100 | €3,407 | +€307 | +9.9% |
| Trade receivables | 40 | €3,100 | €3,076 | -€24 | -0.8% |
| Other amounts receivable | 41 | - | €331 | +€331 | |
| Cash at bank and in hand | 54/58 | €36,781 | €43,822 | +€7,041 | +19.1% |
| Total equity and liabilities | 10/49 | €42,505 | €58,903 | +€16,399 | +38.6% |
| Equity | 10/15 | €11,242 | €26,298 | +€15,056 | +134% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,242 | €24,298 | +€15,056 | +163% |
| Amounts payable | 17/49 | €31,263 | €32,606 | +€1,343 | +4.3% |
| Amounts payable within one year | 42/48 | €31,263 | €32,606 | +€1,343 | +4.3% |
| Trade debts | 44 | €1,262 | €2,084 | +€823 | +65.2% |
| Suppliers | 440/4 | €1,262 | €2,084 | +€823 | +65.2% |
| Taxes, remuneration and social security | 45 | €1,192 | €1,453 | +€260 | +21.8% |
| Taxes | 450/3 | €1,192 | €1,453 | +€260 | +21.8% |
| Other amounts payable | 47/48 | €28,808 | €29,069 | +€260 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,896 | €3,155 | -€3,741 | -54.2% |
| Gross operating margin | 9900 | €12,327 | €23,553 | +€11,226 | +91.1% |
| Operating profit (loss) | 9901 | €5,431 | €20,399 | +€14,967 | +276% |
| Financial charges | 65/66B | €80 | €83 | +€3 | +3.6% |
| Recurring financial charges | 65 | €80 | €83 | +€3 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €5,351 | €20,316 | +€14,964 | +280% |
| Income taxes | 67/77 | €1,192 | €5,260 | +€4,068 | +341% |
| Profit (loss) for the period | 9904 | €4,159 | €15,056 | +€10,897 | +262% |
| Profit (loss) for the period to be appropriated | 9905 | €4,159 | €15,056 | +€10,897 | +262% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.